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Trinity Financial has access to a range of lenders offering second home mortgages and pied-a-terre mortgages.

If you are planning to purchase a second property, it is essential to find a bank or building society with the best acceptance criteria to suit your requirements. For example, some mortgage lenders will allow second home purchases with a 5% deposit while others require a 25% deposit. Some lenders do not accept interest-only while others have generous interest-only policies.

Our brokers have access to NatWest for Intermediaries, and the bank has one of the best second home policies where borrowers need a 5% deposit to qualify for the second mortgage. The bank assesses the applicant's current mortgage repayments as a commitment plus any other property-related costs the applicant is responsible for.

NatWest also allows part interest and part capital repayment mortgages enabling borrowers to lower the monthly repayments to make owning two properties more affordable.

Aaron Strutt, product director at Trinity Financial, says: “The lenders allow second home purchases for a range of reasons including a base for borrowers to reduce commuting times, or properties for family members or dependent relatives to live in. Second-home mortgages are increasingly used when couples separate and go through a divorce, especially when children are involved.”

Which lenders provide second home mortgages?

HSBC, Metro Bank and Barclays require borrowers to put a 20% deposit into the purchase of a second home while Nationwide for Intermediaries asks borrowers for a 15% deposit.

As previously mentioned, NatWest has a particularly generous policy that requires borrowers with a good income to have a 5% deposit towards a second property purchase.

Mortgage Lender

Deposit required

Barclays for Intermediaries


HSBC for Intermediaries


Metro Bank for Intermediaries


Nationwide for Intermediaries


NatWest for Intermediaries


Newcastle for Intermediaries


Skipton for Intermediaries


Santander for Intermediaries


Call Trinity Financial on 020 7016 0790 to secure a second home mortgage


Why do people want second homes?

More of our clients are looking for second home mortgages and pied-a-terre mortgages and they want them for a variety of reasons.

  • Reduce commuting times
  • Let to family members or dependent relatives
  • A home to live in as part of a divorce or separation
  • To be closer to schools or universities
How much will I be able to borrow for a second home?

Mortgage lenders will want to be comfortable that applicants can afford their existing mortgages as well as the second property they are looking to buy.

Each lender has different rules to assess how much the lender will provide for a mortgage.

Some banks and building societies will provide up to five times salary mortgages while others will lend up to six times salary.   

Can I get a second home mortgage on an interest-only basis?

Trinity Financial has access to a long list of lenders offering interest-only mortgages for second home purchases.

If the main applicant will be living in the second home then Santander for Intermediaries will offer 85% loan-to-value. The bank will allow 50% of the mortgage on interest-only and 35% on capital repayment. If the property is not going to be the main applicants main home it will be restricted to 80% loan-to-value.

Is it possible to get a dependent relative second mortgage on interest-only?

Trinity’s brokers have access to a lender offering 85% loan-to-value for second home and homes for a dependent relative.

The bank provides 75% of the mortgage on interest-only and the remaining 10% on capital repayment.

Will I need to pay more stamp duty if I buy a second home?

It’s important to remember that most second home purchases are now taxed at the higher stamp duty rate, i.e. there is a 3% surcharge.

You can use our stamp duty calculator to find out how much you will need to pay.

Can I buy a second property using the equity in my current home?

If you are looking to purchase a second home, it is possible to remortgage your existing property to raise the deposit to put towards the new property.

The lenders will want to know the reason for the second property purchase and where the main applicant will be living. 

It is essential to check if you have any early repayment charges on your existing mortgage to check if you will be penalised for raising the deposit for any additional purchase.


What is the lowest mortgage rate for a second home purchase?

Santander for Intermediaries is offering one of the cheapest second home fixed-rate mortgages.

The rate is priced at 1.39% and it is fixed until 2 June 2022. Once the deal expires, it reverts to the lender’s 4% standard variable rate. The overall cost for comparison is 3.3% APRC representative. 

There is a £999 arrangement fee, and applicants will need a 25% deposit to qualify. The maximum loan size is £1 million and there is a free property valuation.

Is there a maximum mortgage loan size for a second property?

Mortgage lenders do not typically have maximum loan sizes for second properties.

Banks and building societies want to know about the client's overall financial situation to assess whether the mortgage is deemed to be affordable or not.

Trinity Financial recently arranged £750,000 second property mortgage for a client who wanted to purchase a second property for his son to live in while he was at university. 

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To arrange a meeting with one of our expert mortgage advisers complete our enquiry form or mortgage questionnaire and we will call you back. Please note, by submitting this information you have given your agreement to receive verbal contact from us to discuss your mortgage requirements.

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